As advisers to the business community for many years, we are in a unique position to see the various pitfalls businesses encounter at different stages of their cycle - and how many of them occur with depressing regularity.

Inadequate knowledge of the market - especially the needs and wishes of customers and emerging market trends

Insufficient awareness of competitors' strategies

Lack of long-term planning when it comes to entering new markets and exiting existing ones

Taking decisions based on wishful thinking rather than verifiable research

Getting bogged down in overheads - using funds to purchase property and/or equipment instead of renting or leasing and using the money to earn money

Failure to recruit or retain good staff - especially at management level

Lack of management skills - especially when it comes to motivating and managing people, and delegating tasks to others

An unwillingness to dedicate the necessary hours to keeping the business going

Inadequate knowledge of and failure to comply with key legislation, regulations, etc.

Inadequate record keeping

Trying to save money by scrimping on professional advice

Sometimes these difficulties can be overcome, sometimes they prove terminal - but in almost every case they can be avoided if professional advice is sought in time. This is why we recommend our clients to come in for regular business reviews.

If you have not had a review recently, contact us to arrange one today.